MDRT isn't just a title, it's a reflection of your systems, your discipline, and the little things you do consistently even when no one's watching.

<Title: Reinvesting in your practice for MDRT success>

Q: How did you attain MDRT in your earlier years?

Actually, there wasn't any grand strategy, it's just a lot of heart, hustle, and of course, patience.

One of the biggest turning points came from a client that I've been following up for about three years. I was not earning anything from him during that point of time, you know, but I still keep showing up, answering his questions and of course, checking in. Just being there [for him]. And one final day, it just paid off. He untrusted me with a very big case and that helped me clear MDRT.

But more than just the numbers, what kept me going was my “why”.
You know, I always loved the idea of having options in life. The freedom not to worry if I can afford something for myself or for my loved ones. I never liked the thought of building something for someone else, so I wanted to build something of my own, something I could be proud of. On the tough days when rejection hits really hard or the hours got too long, I reminded myself why I started and that actually made all the difference.

Q: What changed after you attained your first MDRT qualification?

Actually, after attaining my first MDRT, I started and ran a business in automotive industry. When I managed to sell the business after a year at a profit, I was inspired to stop seeing myself as just a self-employed individual but more of a business owner. This is when I decided to run my practice like a real business.

People often say that when you start a traditional business, the first few years are the toughest because profits are reinvested back into the business. So, I thought why not apply the same principle for my practice? Instead of upgrading my lifestyle after seeing profits, I paid myself a fixed director salary just enough to meet my needs and reinvested the rest into my practice.

So I invested in tools such as Trello, which is the organizational tool for my client information, and client servicing systems such as the WbizTool, which helps me broadcast messages to all my clients at a go. These tools help me improve my professional development and client relationships -- helping me run my practice a little bit more smoothly and professionally.

Q: How do you sustain your MDRT status?

The real secret to sustaining MDRT is building good habits and sticking to them. One habit that I build up for myself is tracking every single expense that I have. That took six years of consistency, starting really small. So, I believe in this term micro habits. If I want to read more, I just start with two pages a day and once I sustain that, I slowly increase up to six, then ten one chapter and before long it becomes part of my rhythm. I built my business routine the exact same way, starting with daily To Do List, weekly business review and of course regular reflection time.
These small habits done consistently became the backbone of my practice and allowed me to grow without burning out.

MDRT to me, isn't just a title.
It's a reflection of your system, your discipline, and the little things you do consistently, even when no one's watching.

Q: How did you scale-up your practice?

In my early years, I was focused on closing, hitting monthly targets, bringing in sales, and just staying afloat. But I realized I couldn't sustain that pace forever. I'll get burnout. That's when I shifted my mindset again from doing sales to building a business. I started asking better question to myself.

First one will be what kind of client experience do I want to deliver? Second, how can I scale without burning out? And third, what can I systematize or delegate out? I let go of the idea that I had to do everything myself.

I invested in tools, built system and outsourced part of my workflow so I could focus on during relationships, which is a part I truly enjoy. One of my favorite tools is Trello. So, I use it to create a bot for every single client, tracking policy information, life milestones and of course their financial goals. I also record past conversations that I had with them, the small details like their worries, their hobbies, kid’s name, what they like, what they like to eat. I record everything. Let's be real, no one can remember everything. When I revisit those notes and I meet my client, I ask them, “Hey, how's your daughter doing with school?” I give them a gift that they never thought they would receive. Client actually feels seen. This deepens their trust with me.

I also use Trello to set reminders as well for follow-ups, reviews and casual check-ins. It's a very human first approach but efficient and scalable. These systems don't cost me much, just time and consistency, but they help me deliver a higher level of service as my business grew.

Reinvesting in your practice for MDRT success

Transcript

Author(s):

Mark Chan